Strategy to Resume Bitcoin Purchases by Year-End After Halting in June

Strategy, the world's largest corporate holder of Bitcoin (BTC), has been making headlines with its recent actions. Despite halting its purchases in late June, the company still remains a net buyer of BTC. In fact, as reported by Wu Blockchain, Strategy purchased around 175,000 BTC since the year started and disposed of roughly 7,000, meaning it is still a 25x net buyer.

According to CEO Phong Le, the firm plans to resume its BTC purchases by the end of the year. This decision comes after shifting its focus to rebuilding its USD stash and reinstating investors' belief in STRC. The company has used the proceeds from its recent sale to support its preferred stock dividends, share repurchases, and the USD reserve, which is now over $4.6 billion.

Meanwhile, the STRC share price has rebounded swiftly from its lows of around $75 but remains below its par price of $100, closing at just over $95 on Tuesday. This move has been met with some controversy within the crypto community, as Le admitted that the firm's primary focus is now to push STRC to the par price.